“Johnston Carmichael have worked with United Auctions for a number of years in planning for this transaction and it’s great to see the company being passed on to its experienced and trusted management team.

“This deal demonstrates that good businesses can still attract appropriate funding to allow management teams to take on the running of their company’s from exiting owners. The Corporate Finance team at Johnston Carmichael have been at the heart of a number of similar transactions over the past few years which have led to successful transitions of ownership and we believe that United Auctions will continue to go from strength to strength in the future under the new teams guidance.“